Yesterday the Federal Government announced that the relief for directors from liability from insolvent trading would be extended, it had been due to expire at the end of September.
Read MoreThe Australian Government has announced its plans to clamp down on ‘phoenixing’ by introducing a Director Identification Numbers (“DIN”) system. This announcement adopts one of the recommendations of the Productivity Commission’s Business Set-up, Transfer and Closure Final Report (PC Report) in the hope of stamping out phoenix directors.
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